India’s Fiscal Deficit Widens to Rs 9.07 Lakh Crore in April-November, Hits 50.7% of Full-Year Target

The latest data from the Controller General of Accounts reveals that India’s fiscal deficit expanded to Rs 9.07 lakh crore in April-November, accounting for 50.7% of the targeted Rs 17.87 lakh crore for the full financial year.

While the fiscal deficit for April-November 2022 was 58.9% of the 2022-23 target, November marked the fourth consecutive month with a lower monthly fiscal deficit compared to the previous year.

The Centre’s fiscal management saw a significant boost with a 149% growth in net tax revenue and a substantial increase in total receipts, driven by non-tax revenue, including a surplus from the Reserve Bank of India.